Workflow and Key Performance Indicators: Keeping Productivity, Revenue, and Expenses in Check
Occupational Medicine environments are complex and multi-faceted. Growing as a successful OM facility implies a high level of patient and business symbiosis. A thriving OM business not only provides an exceptional patient experience first-and-foremost – but it also generates revenue and manages expenses. With that said, keeping patients satisfied and the business fruitful relies on clinical operations functioning efficiently. A functional workflow balances the business aspects of OM facilities while creating more valuable patient experiences. Maintaining the standard of quality starts by having a functional workflow that generates a productive clinical environment.
Assessing and adjusting workflow to reduce disruptions ensures desirable patient experiences and enables a business for commercial growth. Even minor operation inefficiencies can affect both the patients and the business in a significant way. Conversely, a tactfully planned workflow means better opportunity for expansion. An effective workflow should promote streamlined communication and assist in creating streamlined patient interactions, which makes for a patient experience. Eddie Stahl, Clinical Solutions Consultant, suggests that an efficient workflow is “critical in creating a revolving door of opportunity and cash”. Furthermore, an efficient workflow is crucial in keeping revenue, expenses, and productivity in check. Drawing the line between workflow operations and business success requires a baseline performance measurement strategy. Eddie emphasizes, “Revenue, expenses, and productivity must be in line to grow a profitable OM business. Determining Key Performance Indicators, or KPI’s, allows you to monitor those items.”
Key Performance Indicators
Key Performance Indicators (KPIs) are the tangible measurement items that detect the efficiencies and inefficiencies within a workflow. Like a GPS, they are strategic tools to assess surroundings, navigate, and constantly track the state of a clinical environment. Successful Occupational Medicine facilities share areas of focus that can be attributed to their prosperity: pursuing quality patient outcomes, enhancing margins, and increasing patient volume. Those focus areas are places that KPIs should be established and continuously measured. Watch the video below, featuring Eddie Stahl, to see specific KPI examples using those Occupational Medicine focus areas.
Eddie points out that, “Just as important as documenting your current Key Performance Indicators, you need to establish your goal KPIs”. Setting KPI goals such as reducing cancellation rates or yielding a certain number of visits per hour are strategic ways to guide efforts and confirm that they are purposeful.
Thought of the areas that need improvement but want to know how to track and measure KPIs? Watch below, starting at 3:05, as Eddie breaks down a strategy for scoring facilities improvements and changes.